Audit Committee

PT NFC Indonesia TBk

The establishment of the Audit Committee and the AuditCommittee Charter that provides a guideline for conductingits duties and functions, was based on OJK Regulation No.55/POJK.04/2015 on the Establishment and Guidelines forAudit Committee’s Duties, through the Audit CommitteeEstablishment Letter No. 017/NFC/SK-DK/I-VI/18 dated 16April 2018 on the Appointment of Chairperson and Membersof the Audit Committee.

Committee MembershipThe Audit Committee composition as of the end of 2018 was as follows:Siska Pratiwi (Independent Commissioner) – ChairpersonCipta Indriati – MemberSemi Winasih – Member

All current members of the Audit Committee were appointed in2018, for a term of office of five years, until 2023. The term ofoffice of any member of the Audit Committee shall not exceedtheir term of office as a member of the BOC.

Duties & ResponsibilitiesThe duties, authorities, and responsibilities of the AuditCommittee as stated in the OJK Regulation No. 55/POJK.04/2015 are as follows:

1. Reviewing the Company’s financial information to be issuedto the public and/or authorities regarding the financialstatements, projections, and other reports related to theCompany’s financial information.

2. Reviewing the Company’s compliance with the prevailingregulations related to the Company’s activities.

3. Providing independent opinion in the case of a difference ofopinion between the Management and the Accountant forthe services rendered.

4. Providing recommendations to the BOC regardingthe appointment of Accountant to be based on theindependence, scope of work, and fee.

5. Reviewing the implementation of audit by the internalauditor and observing the follow up measures by the BODon all internal auditor’s findings.

6. Reviewing the risk management activities conducted by theBOD, if the Company does not have any risk monitoringactivity under the BOC.

7. Reviewing the complaints related to the accounting andfinancial reporting processes of the Company.

8. Reviewing and providing recommendations to the BOCrelated to any potential for conflict of interest.

9. Maintaining the confidentiality of documents, data, andinformation of the Company.

The Audit Committee conducted the duties, executed theauthority and the responsibilities as stated in the above OJKRegulation.

In conducting its duties, the Audit Committee retains thefollowing authority:

2. Communicate directly with the employees, including theBOD and the party conducting the internal audit, riskmanagement, and accountancy function related to theAudit Committee’s duties and responsibilities.

Committee IndependenceThe Audit Committee ensures its independence in carryingout its duties and responsibilities by having an IndependentCommissioner as the Committee’s Chairperson.

Committee MeetingsThe Audit Committee is required to conduct a Audit Committeemeeting at least once every three months, or four times in ayear.In 2018 the Audit Committee conducted 4 meetings, all ofwhich were attended by all members of the Audit Committee.